Valero not seeking sale of California refineries - CEO

March 19

March 19 The head of Valero Energy Corp
said on Monday his company is not pursuing a sale of its two
California refineries, putting an end to months of speculation
over whether the refining major was seeking buyers for the two
plants.

Valero's 132,000 barrels-per-day (bpd) San Francisco-area
refinery in Benicia and 78,000 bpd Los-Angeles-area refinery in
Wilmington had been rumored to be up for sale because of a 2006
California emissions law that could cost the company hundreds of
millions of dollars in upgrades.